Is It Expensive To Live In Hilton Head SC?
The resort town of Hilton Head is located on the coast of South Carolina, and it is more commonly known as Hilton Head Island. With about 40,000 residents and a median age of 57, the city is famous amongst retirees. Also, the town features top-notch amenities that are family-friendly, and everyone can find something fun to do in this beautiful Lowcountry coastal destination. Tourists love it, but what’s it like to be a resident? Is it expensive to live in Hilton Head, South Carolina? Let’s find out.
If you are wondering what Hilton Head SC is known for, it would have to be the world-class beaches and golf courses that make it stand out as a top vacation destination. During the summer vacation season, the population can swell up to 150,000 people, and this creates some traffic and crowds, but it also boosts the costs of living, especially when it comes to housing.
Even though the crime rate in Hilton Head SC is low, making it safe and overall an excellent place to live, many would argue that the costs of living are relatively high. The median home value, according to Zillow and Realtor, is around $450,000 and the average rent is about $2,300. If a decade ago, you would’ve been able to rent a one-bedroom apartment with $750/month, nowadays, you can get the same apartment for almost double the price.
Going 33 miles to the south along the coast, you would reach Savannah GA, which is about 50% cheaper than the Hilton Head island of South Carolina. The costs of living on the island are higher than Naples, FL, by about 8%, making it less affordable for the lower and even the middle class. Because of the high costs of living, more people consider it a better place to visit and not to live in.
You can reach out to our realtors in Hilton Head SC if you want to find out more about the housing market in the area, or if you are interested in selling/buying property. Is the cost of living in Hilton Head South Carolina outweighing the world-class amenities of this resort town, or is it the other way around? Let us know by leaving a comment.
Popular Real Estate Glossary Terms
We know that the board of directors meaning defines a body of high executives who make significant daily decisions. But what is the definition of board of directors precisely? Typically, ...
A fiduciary intermingling a clients funds or one who is entrusted with funds and groups them with those of his own. This practice is considered a breach of a fiduciary relationship and a ...
The term amenity value refers to the worth or pleasant feeling added by using or seeing something. The amenity value definition would be the value that an individual amenity adds to the ...
Insulating material attached to crevices around doors and windows to prevent air from either entering or escaping from a structure. Tacked, stapled, or glued onto the surfaces of the doors ...
Has not been registered on the companies books. It belongs to the person holding it. See also bearer bond; bearer instrument. ...
Act of postponing a closing for another day or place. Adjournments of closing can occur for a variety of reasons including the lack of an appropriate closing statement, one or more parties ...
What a piece of property could be sold for on the market. ...
Financial institution that channels the savings of its depositors mostly into mortgage and home improvement loans. It concentrates on originating , servicing, and holding mortgage loans. ...
Provision guaranteeing the return of title to a mortgagor upon satisfaction of a mortgages conditions and terms. Causes the discharge of a mortgagees estate interest in a property. ...
Have a question or comment?
We're here to help.